Petroleum Africa
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Wednesday, June 19, 2013
In a company statement Lekoil announced its intention to acquire a 6.5% stake in OML 113 offshore Nigeria from Panoro Energy subsidiary, Pan Petroleum Aje Ltd. The block contains the Aje oil and gas field.
The purchase price is $30 million.
Lekoil CEO Lekan Akinyanmi commented in the company statement: “The acquisition of an interest in the Aje field, adjacent to our existing interest in OPL310, is exactly in line with our strategy to focus on assets in corridors of interest identified in our detailed evaluation program when we established Lekoil. It also brings us potential near term production in line with our ambition to create a producing business with higher upside appraisal and exploration assets. In addition, we continue to assess further opportunities.”
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